Wednesday, 29 May 2013

Morning Summary, Market Synopsis: 29th May, 2013

The major Indian equity benchmarks started the day on a flat note on May 29, 2013.This is in spite of favourable international cues. It was positive session on Wall Street on Tuesday with major indices closing in the green following upbeat economic data. The Dow closed at a new all-time high and the Dow Jones Industrial Average was up 106.29 at 15,409.39.The S&P 500 added 10.46 at 1,660.06, while the Nasdaq Composite Index jumped 29.74 at 3,488.89. European markets also closed near multi-year highs. However Asian markets were mixed in morning trade on Wednesday. Post opening, benchmarks are trading weak. The derivative expiry of Thursday is weighing on the mind of the traders. This is expected to make market choppy. This led the Sensex to trade near the level of 20145.43i.e. down by 15.39 points & the Nifty to trade near the level of 6103.80 i.e. down by 7.45 points. The Midcap index and small cap index are both trading in green with the gain of fourteen basis points of a percentage point and quarter of a percentage point. On the sectoral front, the indices are trading mixed. The Healthcare Index is trading as the biggest gainer with the gain of more than one percentage point. This is followed by the IT Index which is trading with the gain of slightly more than half of a percentage point. On the other hand, the Realty Index is the biggest loser with the loss of seven-tens of a percentage point.
Further, the market breadth opened neutral as one stock was seen advancing against each declining stock.

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